Europe: Good Fundamentals, Bad Politics

(1) Brexit overdose in London. (2) UK is between the Rock and a hard place. (3) Brexit negotiations will be nasty. (4) Fundamentally, Europe is looking upbeat, according to PMI and ESI. (5) Forward revenues and earnings are also improving. (6) Investors seem to believe that populism is a passing fad in Europe. (7) Dutch treat. (8) French fried. (9) Will there be a Frexit referendum after presidential election? (10) Germans preferring the status quo voted for Mini-Merkel. (11) Italy is still Italy politically, but Italian banking crisis may be getting worse.